Shell strikes deal to sell Permian unit for $9.5bn
Shell has reached a deal to sell its Permian shale business to ConocoPhillips for $9.5 billion, with $7bn of that going to shareholders.
Permian
Transition concerns speed fossil fuel development
If energy demand is shifting away from fossil fuels, the most economically rational move for governments is to maximise development of resources now.
Report: US hydraulic fracturing demand expected to bounce back
Demand for hydraulic fracturing services in shale plays across the United States is expected to reach rock bottom in May and stay low in the summer before a recovery begins in the fall, the Norwegian global energy research firm Rystad Energy reported.
A month after historic crash, situation ‘not nearly as dire’ for US oil prices, experts say
U.S. oil prices aren’t expected to repeat last month’s unprecedented collapse into negative territory, industry experts say, because the nation’s stockpile has slowly decreased, easing a storage crisis, while traders “learned their lesson.”
Texas oil hall of famer Clayton Williams dies aged 88
A Midland legend passed away Friday night.
Petrofac announces £93m new deals in North Sea and Malaysia, buys Texas energy services firm
Petrofac has announced new contracts and extensions in the North Sea and Malaysia worth £93m, as well as an acquisition marking its entry to the US onshore services market.
Permian flaring spikes to new record highs again
The waste and pollution of natural gas in the Permian Basin reached new record highs yet again in the third quarter, according to a report from the Norwegian research firm Rystad Energy.
NextDecade signs up to Rio Bravo pipe plan
NextDecade has signed a memorandum of understanding (MoU) with Enbridge on the construction of a pipeline from Texas’ Agua Dulce area to the proposed Rio Grande LNG project, in Brownsville.
Employment is shifting from shale to offshore, Rystad says
Rystad Energy has analyzed the oilfield service industry sectors with the highest percent change of employment, and found that the main driver of employment is shifting from shale to offshore.
Judge tosses out lawsuit against Kinder Morgan’s Permian Highway Pipeline
A state district court judge has tossed out a lawsuit that sought to stop a Kinder Morgan pipeline from being routed through the Texas Hill Country.
Apache’s Altus opens Permian gas processing plant
Apache Corp.'s Altus Midstream Co. said it opened its new Permian Basin processing plant to treat its production of natural gas and natural gas liquids.
Big Oil won’t be buying up Permian strugglers
Big Oil probably won’t be buying up the Permian Basin’s struggling independent drillers any time soon.
Huge scale of US shale
Moss Creek Resources recently set a new record for drilling a well in the Permian Basin, the onshore resource that has dramatically transformed the fortunes of the US oil and gas industry.
Exploration, oil price and maintenance dent earnings for ExxonMobil
Exploration costs, lower oil and gas prices and heavy maintenance dented ExxonMobil’s earnings for the start of the year.
Apache cuts back production of Permian gas because of pricing
Houston's Apache Corp. said Tuesday it will dramatically cut back on its natural gas production in the Permian Basin for an extended period of time because of steep pricing discounts caused by pipeline shortages in the region.
Shell on the lookout for Permian deals
Royal Dutch Shell Plc is on the hunt for deals to bulk up its position in the Permian Basin, where it lags rivals Exxon Mobil Corp. and Chevron Corp.
ExxonMobil hikes spending, earnings projections with focus on Permian, South America
Exxon Mobil is seeking to maintain its top spot in the world of Big Oil by hiking spending and aiming to churn out increasingly higher volumes of oil and gas with a strong emphasis in West Texas and South America.
Exxon, Chevron plan to dominate Permian, grow as others cut back
The nation's two largest oil companies said Tuesday they plan to significantly hike their activity in West Texas' Permian Basin and dominate the region, spending even more money while others cut back.
As energy world focuses on Permian, Gulf makes its own comeback
The attention of the energy industry has focused in recent years on the Permian Basin, the once tired West Texas oil field that roared back to life when hydraulic fracturing and horizontal drilling freed the vast reserves locked in its shale. But as the Permian gathers the attention, another aging oil field is making its own comeback.
Exxon Mobil partners with Microsoft in the Permian
Exxon Mobil said it will deploy technology from Microsoft to make its massive Permian Basin development the largest oil and gas acreage in the world to use cloud computing technology.
Tough task for dealmakers in ‘sluggish’ upstream market, Woodmac says
Volatile oil prices are hindering global M&A deals by creating uncertainty, widening the asset valuation gap between buyer and seller, and making companies re-think their strategies, analysts said.
Texas’ Permian Basin loses two drilling rigs
Texas lost two drilling rigs over the last week, both in the high-producing Permian Basin oil field of West Texas.
Deal frenzy swells with Diamondback’s $8.4bn shale buyout
Diamondback Energy’s agreement to buy Energen Corp. in an $8.4 billion all-stock deal makes it official: The long-awaited Permian Basin buying spree has arrived, promising to shake up the U.S. shale industry.
Coke, meth and booze: The flip side of the Permian oil boom
The fastest-growing oil region in the U.S. is fueling not only the second American shale revolution—it's fueling a subculture of drug and alcohol abuse among oil field workers.
Report: Oil and gas M&A to surge in late 2018
Oil and gas mergers and acquisitions are expected to surge with upwards of $50 billion in new U.S. deals for the rest of the year following a spring lull, according to a new report.